Canaccord Genuity Group Cuts Paragon 28 (NYSE:FNA) Price Target to $15.00

Paragon 28 (NYSE:FNA) had its price objective reduced by Canaccord Genuity Group from $17.00 to $15.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently issued reports on FNA. Piper Sandler reissued an “overweight” rating and issued a $12.00 target price (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Needham & Company LLC raised their price objective on Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $15.60.

Paragon 28 Price Performance

FNA stock opened at $10.01 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.70 and a current ratio of 3.50. The company has a market capitalization of $838.04 million, a PE ratio of -13.53 and a beta of 1.01. The company’s fifty day moving average price is $6.43 and its 200-day moving average price is $7.24. Paragon 28 has a one year low of $4.65 and a one year high of $14.79.

Paragon 28 (NYSE:FNA) last announced its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The firm had revenue of $62.30 million for the quarter, compared to analysts’ expectations of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) EPS. On average, equities analysts anticipate that Paragon 28 will post -0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Paragon 28

Several institutional investors and hedge funds have recently added to or reduced their stakes in FNA. Nisa Investment Advisors LLC boosted its holdings in Paragon 28 by 46,660.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after buying an additional 4,666 shares during the last quarter. Levin Capital Strategies L.P. purchased a new stake in shares of Paragon 28 during the second quarter worth approximately $68,000. Intech Investment Management LLC acquired a new position in Paragon 28 in the 3rd quarter valued at $70,000. Ballentine Partners LLC acquired a new position in Paragon 28 during the third quarter worth about $91,000. Finally, Creative Planning acquired a new position in shares of Paragon 28 during the 3rd quarter worth approximately $91,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Paragon 28 Company Profile

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.